(i)Incorporated in 1999, our Company, “Innovators Façade Systems Limited” is engaged in designing, engineering, fabrication and installation of façade systems. We believe in offering total solutions to our customers with respect to their requirement of façade installation in complex projects. We specialize in technically demanding facades. We offer various range of products to meet the demands of our customers. With an operating history of more than eighteen years, we have developed a brand image for ourselves in the façade industry.
(ii) Our manufacturing facility is situated at Wada, Maharashtra and is spread over 1,25,000 square feet. We execute end to end fabrication of our product i.e. from designing of facades to dispatching. Our product basket ranges from glazing /curtain walls , high end doors & windows , skylights , canopies, frameless glazing, MS structures, stone cladding, metal cladding, roofing, & others. We believe in qualitative manufacturing and offer facades which are resistant against UV rays, acidic rain, dust, noise and others. The registered office of our Company is situated at Mumbai and we have 7 branch offices across India to aid our operations. We have a widespread presence and are executing projects in various states such as Maharashtra, Goa, Haryana, Karnataka, Tamil Nadu, Uttar Pradesh and West Bengal. At present, our major contracts are being executed in the state of Maharashtra.
(iii) Customer satisfaction has been one of our key goals since inception. Over the year, we have executed around 200 projects and had long standing reputed clients across the construction industry. We have offered our services for varied type of construction projects including residential buildings, commercial complexes, IT Parks, airports, retail and pharma projects. Our recognized list of clients include M/s. Hiranandani Realtors Pvt. Ltd, M/s. Relcon Infraprojects Limited, M/s. Larsen & Toubro Limited, M/s. Grauer & Weil(I) Limited etc. among others.
(iv) For our innovative solutions and services we have been awarded Certificate of Excellence by Construction Week India Awards 2012, certificate of appreciation by Construction Week India Awards
Promoters of Innovators Facade Systems Limited Company are
(i) Radheshyam Sharma, aged 52 years, is the Promoter, Chairman and Managing Director of our Company. He has been appointed as director of our Company since incorporation and has been designated as Managing Director of our Company with effect from February 17, 2018. He has completed Diploma in Civil Engineering conducted by Board of Technical Education Rajasthan, Jodhpur. He has an experience of around 18 years in façade industry. He is the guiding force behind all the strategic decisions of Company and is entrusted with the responsibility of looking after the overall management and operations of Company.
(ii) Our Corporate Promoter Jolly Multi Trade Private Limited
Jolly Multi Trade Private Limited (JMTPL) was incorporated as a Private Limited Company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated December 11, 2006 issued by Registrar of Companies, Maharashtra at Mumbai
(i) Authorized Share Capital
(2,10,00,000 shares at FV@10)
(ii) Issued, Subscribed,& Paid-up Share Capital Before Issue
(1,32,07,008 Shares at FV@10)
(iii) Present Issue
( 56,60,800 Shares at FV@10)
Note: The Company has issued 15,32,258 Equity Shares of face value of Rs. 10/- fully paid up at a issue price of Rs 62/- per equity share on March 07, 2018 as per the details given below:
Name of Allottee
No. of shares
Pantomath Fund Managers LLP*
Pantomath Sabrimala AIF Pantomath Sabrimala SME Growth Fund Series I
*Pantomath Fund Managers LLP, SEBI registered Portfolio Managers have been allotted shares in Pre-IPO placement on behalf of its clients under Discretionary Portfolio Management Service.
1. Balance Sheet Snippet[ Financials as of Dec 2017]
(i) Shareholders’ Fund[Equity] Value
(iv) Debt/Equity[<1 ideal]
(v) Net Worth[Asset- Liability]
(vi) Current Ratio[ideally>1.5]
(vii) RONW[PAT/Net Worth] or ROE
(viii) Book Value or NAV
(ix) P/B [<5 ideal]
2. Profit n Loss Snippet
(i) The Reveune of the company in last 5 years ( FY13 to FY17) is 78.33 Cr, 83.75 Cr, 92.04 Cr, 94.36 Cr and 102.3596 Cr respectively. The Company is growing at a CAGR of 6.94%.
(ii) The PAT of the company in last 5 years ( FY13 to FY17) is 2.32 Cr, 2.68 Cr, 3.13 Cr, 1.65 Cr and 1.82 Cr respectively. The inconsistency in PAT in the past years is cause of concern.
(iii) The EBITDA Margins of the company for FY13( 10.15%), FY14(12.4%), FY15(13.8%) ,FY16(11.17%) and FY17(11.2%) . The company has inconsistent EBITDA margins in past years.
(iv) P/B(post issue)= 1.09 (at cutoff price of 72)
(v) Annualized EPS(post issue)= 4.06
(vi) Annualized P/E(post issue)=17.73 at the cutoff price of 72
3. Cash Flow Statement(all figures in lacs)
(i) Net Cash Generated from Operation
(ii) Net Cash Generated from Investment
(iii) Net Cash Generated from Financing Activity
(iv) Total[ (i)+(ii)+(iii) ]
(v) Cash and Cash Equivalents at the Beginning of the Year
(vi) Cash and Cash Equivalents at the end of the Year
Comparison With Peers:
There are no listed peers engaged exclusively in the segment in which the company operates i.e. Manufacturing and Installation of façade systems.
Review and Recommendation of
Innovators Facade Systems Limited IPO
from our side is: